Our economy is still like a tricycle

President Ranil Wickremesinghe asserted that he will work hard to rescue the country from bankruptcy, and emphasized that he will build a debt-paying economy in the country and get rid of the debt burden.

The President mentioned this while attending the opening ceremony of the car spare parts distribution center built by Toyota Lanka in the Kadavathi area this morning (December 14) to mark the completion of 70 years of Sri Lanka-Japan relations.

The President mentioned that the country is in bankruptcy today due to the lack of change in the economic program after the war, and he expects the economy to grow within the next year by increasing investment opportunities.

The President had stressed the need for an institutional framework that would revive the country's economy and bring investment opportunities to the country.

Ranil Wickramasinghe commented further here;

Today Vietnam's economy is like a Formula One racing car. Our economy is still like a tricycle. How are we going to race in Singapore? Other countries have Formula One racing cars. We can also go and compete in tricycles. It is good for people traveling daily. No problem with that. I repeat that is fine. But it doesn't go well for racing. How do we win? We need to find a race car for that competition. Must be a good machine. That means a good economy. That is the economy we are building now.

We are building that engine by creating an open economy in this country. This racing car is designed to create a competitive export economy and compete with the world. I believe you all can beat it.

First, the country needs to create a digital economy, an eco-friendly economy, as well as a socially just economy, as well as a competitive export economy. For that this restoration is done. Those accustomed to the old ways may resist this. But we have to take a new path. Do you want to go racing? On a bicycle? Tell me because the future belongs to all of you.

The President unveiled the signboard and inaugurated the Toyota car spare parts distribution station and also paid an observation visit there.

Celebrating 70 years of Sri Lanka-Japan relations, the President was also presented with a special memento. President Ranil Wickremesinghe had a friendly conversation with the employees of Toyota Lanka.